10/16/2020, 8:11 AM (Source: TeleTrader)
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Foxconn wants to make components for 10% of world's EVs

Foxconn said on Friday its goal is to become a component supplier for 10% of the world's electric vehicles within the next seven years.

According to the company's Chairman Liu Young-way, the Taiwanese company does not intend to make electric cars itself but intends to supply major carmakers with key components, such as batteries and car internet services, and achieve its 10% goal between 2025 and 2027. "We want to push Taiwan’s EV industry to the world," Liu stated and added Foxconn is in "ongoing talks" with several automakers, without providing more details.

Foxconn is known as one of Apple's major suppliers and, besides its products such as the iPhone, it also assembles products for other large companies, including Amazon, Nintendo, Nokia, Sony and Xiaomi.

Baha Breaking News (BBN) / NP